Weaker yuan revives fears of a currency war,a global conflict by other means that directly affects millions of workersThe phrase “currency war” speaks to a seemingly phoney battle between the world’s major trading powers over the price of exports. It has all the attributes of an illusory conflict because no one ever agrees that a genuine dispute has taken place. And as long as everyone denies they acquire drawn swords to slash their currency to compete with rival powers, talk of a war fizzles and dies.
There is a fringe constituency of analysts who acquire long argued that, or much like the hundred years’ war of intermittent battles between England and France,currency wars get headlines only when there is a lurch in policy, which is the equivalent of deploying archers and unleashing the cavalry. Continue reading...
Source: theguardian.com